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Citigold Corporation Limited (ASX:CTO)

ALERT: Price-sensitive ASX Announcement for CTO
Current share price for CTO : $0.013 0.008 (160%)+
Announcement
Release
30 Oct 2024 11:54AM
Price at Release
$0.005
Full Release
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Summary
The Quarterly Activities Report for Citigold Corporation Limited outlines the company's current operations and financials as of September 30, 2024. The report highlights the progress made in exploration activities, particularly in geochemical sampling and the company’s continued focus on restarting its gold mining operations at the Charters Towers Gold Project. It also details the financial performance, noting a net cash outflow from operating activities and investments in exploration and development, alongside plans for upcoming development projects aimed at enhancing production capacity.
Key Points
  • Citigold is focused on the Charters Towers Gold Project.
  • Recent exploration has shown promising gold assay results.
  • The company aims to become a low-cost gold producer.
  • Net cash from operating activities was a negative $378,000.
  • Development payments included $106,000 for mine design and engineering optimization.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.